Silvergate Capital Sinks on Plans to Wind Down And Liquidate (2)

(Updates with stock and peer move.)

Silvergate Capital nosedives as much as 53% in post-market trading Wednesday after announcing plans to wind down operations and voluntarily liquidate the bank. Silvergate pared losses to -22% after the initial drop.

• “In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of bank operations and a voluntary liquidation of the bank is the best path forward,” it said in a statement
• The bank’s wind down and liquidation plan includes full repayment of all deposits
• The company is also considering how best to resolve claims and preserve the residual ...